Women have traditionally been known as the big shoppers in luxury retail. But China is no traditional market. Men account for about 55 percent of China’s luxury goods market, much higher than the 40 percent global average, according to research firm CLSA. Furthermore, Chinese men are not only outspending Chinese women on luxury goods — 7 billion yuan ($1.1 billion) in 2010 versus 2.8 billion yuan according to Bain — they outspend them in many categories, reports China … [Read more...]
Luxury goods in China Beyond bling, Lorre White
June 10, 2013 by
Luxury goods in China Beyond bling “IT WAS an amazing golden age,” reflects Guillaume Brochard of Qeelin, a Chinese jeweller. From 2007 to 2011 many luxury-goods firms enjoyed double-digit annual growth in China, which became their most important market. The first blows came last year, with an economic slowdown and jitters about the political transition. Now, a crackdown on corrupt gift-giving and a populist backlash against ostentation have added to the woes. The outlook for … [Read more...]
Lorre White reports ‘Central & Eastern European luxury markets ..’
April 11, 2013 by
Central & Eastern European luxury markets continue downturn Political instability has been adding to the prolongued financial crisis in Hungary, Romania, Bulgaria and Ukraine – resulting in a decrease in buying power, drop in direct foreign investments and an even more restrictive access to credit. This has translated into a drop in luxury sales in all the four countries, across all sectors, especially fashion, jewellery, watches and cars. An increase in wealthy nationals shopping at … [Read more...]
